Echo Fox’s $30 million deal falls through
Just under a month ago, Echo Fox submitted a proposal to sell its LCS position to Kroenke Sports & Entertainment for a grand $30.25 million. This situation follows Echo Fox’s scandal that rocked its upper management, involving an Echo Fox’s shareholder / executive’s racist and threatening behaviour being leaked. This sparked a storm on reddit, leading to Riot imposing Echo Fox to take swift corrective action, or face losing their LCS spot. Click Here to read more about the proposed deal.
As the $30 million deal broke down between Echo Fox and Kroenke Sports & Entertainment, and now being well past the deadline given by Riot, the LCS slot’s sale will be handled by Riot. Riot will hold an open bidding process for the slot, with most of its money from the sale going to Echo Fox. The market price for LCS slots are around $35-45 million USD, a healthy mark up compared to its initial buy in price at $10 million USD.
On the 17th of August, various Echo Fox players revealed they would no longer be apart of the organisation, instead announcing their free agency.
While Echo Fox were left with no other option to let go of their players, the organisation should have undoubtably assisted its players in finding further opportunities. Instead, they have left them as free agents leaving a distasteful exit from the League of Legends scene.
Given Echo Fox’s shaky performance, players will likely be hard pressed to find a starting role for the next season.
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